What is the most correct benefit of market research before starting a venture?
Answer and explanation
Correct answer: ग्राहक, प्रतिस्पर्धा और मांग को समझना
Market research gathers information about customer needs, demand, competitors, prices, and market conditions. This information helps the entrepreneur choose a suitable product, target segment, and strategy while reducing avoidable uncertainty. It cannot remove the need for effort, guarantee profit, or abolish legal and tax requirements.
Frequently asked questions
What is the correct answer to this question?
ग्राहक, प्रतिस्पर्धा और मांग को समझना
Why is this the correct answer?
Market research gathers information about customer needs, demand, competitors, prices, and market conditions. This information helps the entrepreneur choose a suitable product, target segment, and strategy while reducing avoidable uncertainty. It cannot remove the need for effort, guarantee profit, or abolish legal and tax requirements.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
